Solid Waste Management Global Market to Exhibit a Remarkable Growth of $379.06 Billion by 2028, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

"""The Business Research Company recently released a comprehensive report on the Global Solid Waste Management Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The solid waste management market size has grown steadily in recent years. It will grow from $301.31 billion in 2023 to $314.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to the adoption of sustainable waste management practices, utilization of waste as a source of renewable energy, growing concerns about public health, economic growth, and urbanization.

The solid waste management market size is expected to see steady growth in the next few years. It will grow to $379.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to climate change mitigation, regulatory compliance, increasing industrialization, increase in smart city constructions, and climate change mitigation. Major trends in the forecast period include development of bio-based alternatives, technological advancements, waste-to-energy technologies, public-private partnerships and smart waste management systems.

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Market Drivers and Trends:

The rising environmental concerns are expected to propel the growth of the solid waste management market going forward. Environmental concern refers to the awareness and care for the well-being of the natural world and its ecosystems. Environmental concerns are rising due to extreme weather events, growing awareness of climate change, and the impact of human activities on the environment. Solid waste management is essential for mitigating environmental pollution, conserving resources, reducing greenhouse gas emissions, protecting ecosystems, promoting circular economy principles, and improving public health. For instance, in May 2024, according to Environment and Climate Change Canada (ECCC), a Canada-based government department, the total greenhouse gas emissions for Canada in 2022 were 708 megatons (Mt CO2 eq), up 1.3% from 698 (Mt CO2 eq) in 2021. Furthermore, in November 2021, according to the Office for National Statistics (ONS), a UK-based government department, around 75% of adults in Great Britain were concerned about the effects of climate change. Therefore, environmental concerns are driving the growth of the solid waste management market.

Major companies operating in the solid waste management market are developing technologically advanced solutions such as waste sorting robots to enhance the efficiency and accuracy of waste sorting processes, increase recycling rates, and promote sustainable waste management practices. Waste sorting robots are robotic systems designed to automate the sorting and segregation of different types of waste materials. For instance, in February 2024, ZenRobotics, a Finland-based supplier of intelligent sorting robots for the waste industry, launched ZenRobotics 4.0, the fourth generation of waste sorting robots. ZenRobotics 4.0 represents the fourth generation of waste sorting robots, boasting new features and enhanced artificial intelligence (AI) capabilities to optimize and improve waste sorting operations' efficiency. The robot is considered a groundbreaking advancement in waste sorting technology, offering more than just a simple upgrade to waste management operations.

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Major Key Players of the Market:

Veolia Environment S.A., Waste Management Inc., Republic Services Inc., Remondis AG & Co. Kg, Rethmann AG & Co KG, SUEZ Group, Waste Connections Inc., GFL Environmental Inc., Clean Harbors Inc., Hitachi Zosen Corporation, Stericycle Inc., Paprec Group, Cleanaway Waste Management Limited, Renewi plc, Covanta Holdings Corporation, Biffa Limited, Advanced Disposal Services Inc., Biffa Group PLC, Recology, Waste Pro USA, Casella Waste Systems Inc., FCC Environment Limited, Viridor Limited, Urbaser SAU, ALBA Group, Envac Group, Keppel Seghers, TANA Oy

Solid Waste Management Market 2024 Key Insights:

• The solid waste management market size is expected to see steady growth in the next few years. It will grow to $379.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• Environmental Concerns Driving Growth In The Solid Waste Management Market
• Innovative Waste Sorting Robots Revolutionize the Solid Waste Management Market
• North America was the largest region in the solid waste management market in 2023

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